Baku: Elm (Science), 2000. 257 pages.

ISBN 5-8066-1155-8.

It is signed in a seal 02.02.2000. Format 60 x 84 ¹/_32. Volume 22,0 pp. Circulation 300.

Scientific editors:          the doctor of economic sciences, professor               A.A.Aqaeva

                                                                                                                  T.А.Pashayev.

Reviewers:                    the doctor of technical sciences, professor                T.M.Qasanov

                                      Ph. D. in economics                                                A.R.Alekperov

                                      Ph. D. in economics                                                A.B.Sariev

Fuel-Energetic Complex of the republic as an important and the contituent of the economy has important influence on progress in Azerbaijan, processes taken in its social-economic life. Without this complex the scientific-technical and industrial potential of our country could not be imagined. Now, FEC is the main factor of development in such spheres as agriculture, transport and social one. This means the strengthening of state independence of Azerbaijan, its economical revival and it tums the creation of development of energetic coplex into necessity.

After re-gaining the independence Azerbaijan with its hydrocarbon resources became in the focus of foreign state. The rich oil reserves of the Caspian sea has attacted the forign companies to our republic and its further oil resources utilization stepped over the regional boundaries and became in the focus point of international politics. Taking into account this fact a number of big states have conluded multi-puprose agreements for the utilization of natyre resources of the republic.

The necessary and important steps have been taken for the integration with the world community of our republic. Such a strategic goal and newly existing geopolitical demand the scientific, complex and researches of problems of fuel industry of the republic.

In the condition of economic system the solution of economic problems that the power industry encounters is mainly the joint complex execution of the economic reforms.

In spite of complicity anolversatility of the problem of submission of proposals and recommendation on strategy and tactics about the expected new economic reforms in the fuel industry and in its rational economical mechanism are constituent part of this considerable work.

The history of economy as well as other information related to the researched field such as researches of economists and oil-men, the researches on analysis and own assessments obtained by author on dynamics of fuel industry of Azerbaijan and its stages have been stated:

m For the first time problems of realization of economical reforms in the fuel industry of the independent Azerbaijan in the coudition of market relations have been researched;

m The retrospective review of fuel industry of Azerbaijan, the history of oil-refining including the role of Baku in the world market at the beginning of xx century was carried out. The distinguishing peculiarities in the new geopolitical situation has been determined;

m In the context of fuel industry of Azerbaijan the analysis of the integration processes in the world economy the tendency in the world market as well as the factors of globalization and regionalization have been carried out;

m The historical-geographical and economical aspects of division and distribution in the civilized macro regions have been indicated;

m The tendency in the world power industry and in the integrated space has been analyzed on the basis of obtained experience. The present condition of fuel industry of been shown in the commutative indecles;

m Basing on the global processes taken place in the world, the historical traditions, production experience, the specific peculiarities of the republic, the national priotity and demand for the directions of adaptation to the world standards of management and finance net-work are stated;

m The necessary recommendations on stategy and tactics of carried out economic reforms in the fuel industry are ready. The possible forecasting and the mechanism of rational economical activity are submitted;

m The role of investment policy in establishment of FEC, the ways of involving the foreign investors and mobilization of internalrecourses have also been shown;

m The analysis of labor and improvement of the order and tax in the complex have been carried out. The positive tendency is determined;

m The methodological basis of productional expenditures in the sphere of free market condition and increase of competition were analyzed. The analysis of between the levels of productional expenditures and the price of crude oil have been carried out;

m The scientific practical recommendations for use of innovation - technical achievements and “know-how” in the process of improvement of power and gas supply are given;

m The necessity of new changes in fuel-power complex is scientifically based. The economical mechanism of the wide restruction of production has been proposed;

m The ways of efficiency in FEC and improvement of its financial condition are revealed;

m The peculiarities of the national ownership, development of oil business, voucherizing of privatization, the process of concession have been analyzed. The directions corresponding to the national and state interests are determined.

m The ways to the stable development, economic increase and effective activities for 15-20 years are shown. Some results on economical revival were obtained.

On the basis of completed researches on reorganization of fuel industry, promotion of productional activity as a constituent part, determination of fuel power balance of Azerbaijan, the increase of oil-gas extraction in the old oilfields at the accout of internal resources, deepening of economic reforms have been obtained.

The materials of research works can be used in more valuable works in this fields as well as in preparation of literature on economy, researches in economic problems, in writing the history of oil and gas of Azerbaijan in XX century.